The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1887-01-20
Locating thu Respo aa,b;,,tu

hn
tes lono ,etto, i.om F1ttsylvania county. 40
he 18th. on the debt ne e i'lehmond Dispatch al
ch he rather doub.s the uo, poa question, in ID
non OF The Legislature and nrese,,s. eA''a 70
9th -, ieasons against it. But he presents a.,
these are tho, as are OF great importance, ~,
ere both pass ed bv ~ oA Alllers No. and 60.
isiature-lSSi- S2-.hat passed tha p n. ~,
~ Ill ana That consequently. the one no.
hat ones,;as ior the whole of the legislation
VS. of the ouesto,, iac's, according to.onE w.
y exists, upon the rennh, Tne ~nole blame
le subsequent decisions of ,h sss ~. An'
t Ii nAt " complicated the debt ans
ocratic nart, 'aanot 90 at
1e e,ca;,r s..o -erai
N H. sen coupon
-acneo u 'ne
oemoc'
IS OIL Tie pa "s "p,
marx very COMMON wv
..tic press OF the otaUe. ni'n'.
ignorance or design, they uo NOV
sent a fair statement Oh Inc ueo. 20
iation, nor as to where the RESPONSIBILITY!
lies for The present aepioi"oio 49,
ZION OIL lhe nnahoe' nv. -;1;arv
wealth.. ~ o"e ~, N,e
ies.sla'ion hno"n 40 ee =. ~ ao,;on Of tho
anu was INC e'o'v " n.,.,;.,,s and
LEGISLATURE "'ieii 'no !. a. - 10
beauJus'eio ia,' eon''o, - ,,o.soa
aiSo ',ue ."aV ''''.0 :. 's os oon,
upon ny 'ie o ~ 's' "na &c .ho comet.
iiis "i'"'" 'ne = ,:,-;. .rno that tho
'u'ion' - ~ o.,feroono,t of the
eiiao,'i,e NO ~ ", wy aoas,;uad .. off.o.
iai'o'eoe, - '''' ao.tro,.oa
IVY, UNI my p =, ,;,,o ,h.n,
Ny Dclnoo' a''o 'es '',''' ~. .,,.,
llore ioice Wy "ne"u' ss...:.n.h ~,
trac'ihs 'ieii 'i'a'isy "nN - 1s,;m ~,
purpose l."Ae .n'' 80. - ~ To-
necessary W ,eiei ~ ~ s,a.s ~..-oa,eo
lSia'ioii aieo'ins 'n0 ..sa.. ,.o,o,.od
laetS WHICH VIC nare nei.'o. 49,. s;,,
W oui ie''uoi'' W '''.,
desire or purpose " wv al apaa,; ~
ie''oei' ui'ou'.ioN ~ a.,
ooC Simply ~ oiine " '"s
case DIS Ii is' anu 'ooa.o '"e 'e'pon''D'
ior us pfeseuS cohui'ion'
The funding act OF 1871 authorlzeu tne
debt to be funded and created the seI-ex-
ecuting coupons,as tax-paying agent,ana
these coupons have ever since invaded the
treasury, .arresting the revenues OF the
State before they reached the financial De.
pository. The passage OF this act was the
result of questionable means, and II has
| been openly charged and never successful
iy denied that it was the outcome OF
bribery and corruption. The paadicdtor,
a few weeks ago referred to this fact and
that thirtyone Republicans were inanced
to change their votes to consummate the
law. ard because of this our contemporary
locate the responsibility for it upon the
Republican party. The Legislature was
Democratic. The Governor was elected
by what is now the Democratic party. lie
framed the bill, and his brother vas tAf
central figure in the lobby that secured lis
passage. He represented syndicate OF
brokers and spectators who had pur-
chased the bonds OF the State at noNsna
figures, with knowledge OF the nature
of the bill, and the results that would FOL
= low its enactment. Many OF those who
chan ged their votes were ignorant, anc
others were corrupt, but none OF then
were as corrupt as the Governor and ths
syndicate and the lobby which engineered
the scheme and effected sudden enang'
in the position OF members OF the Legs
| LAT m L
d plot OF aeartless spectators VINO caIee
nothing for virginia, and they were ZACH
itated in their designs Sy the false state
Eiient coming from the executive oa,Ss ~
} the taxable resources OF The common
wealth, upon Whlch was preaicaled tie
Y measure. III there was bribery, Int
bride gisers were lnlnlteiy more crimiha
than the bripe Layers. TOT tney were IN
te;iigenS and experienced wails many u
those wh0 changed -tneir Soles were ighp
rant and inexperienced. AND YET WILL
the faint of corruption on the measure
! the Democratic Legislature never iastl-
J tuted searching investigation TO expose
the wrong doing. Committees, appointed
J for that purpose, went far enough TO as
certain that there had been irregularities
f and Ra6TR! delinqueneles, but Tor rear o.
incuipating aheiT perry Irlehds' thel
j stopped short OF the enc tG which aptl
pointed The measure was framed anf
7 sustained by Democratic administrator
, end it was morally and legally responslDi'
A fos it. After the. enactment OF the Dill
anc before another Legislature was electe(
] and convened the brokers' syndlcate IN
dustriously used the intervening t'me.-
They had the ponds IN hand. WHICH tne.
had PURCHASED at nominal price, ana II
brief period S2i.ooo'o oo OF Inc Soo,Ooo'
00O assigned TO Virginia under Inc Dill O.
1871, we're funded under It's provisions
, with ,iie acoruing interest represented by
tax-receivabie coupons, The Supreme
Court OF Appeals OF vlislnsa=~ail lJemo
, crats-in 1877, declared IN the case OF An
toni VS.. Wright this act TO DC constltu
tional and irrepealabie and SAID MOTTO re
celve coupons would Violate Inc oDiiga
ton OF the contract MADE by the otat'
with har creators as represented ~ tns
: coupon feature OF the lunalng olil o.
lo'l-Whlch couse ilos os hohe oecauSe Il
Il, ~ al hxy I Ilf5 n